Sydney-based product authentication and consumer engagement solutions provider YPB Group Limited (ASX:YPB) has signed a new three year Master Supply Agreement (MSA) with leading Indonesian pharmaceutical and wellness firm PT Combiphar.
The new MSA anticipates broader product coverage and given the planned SKUs, volumes and pricing under the new MSA, YPB expects revenues over its three year life to be circa A$1 million.
YPB Group CEO John Houston said Combiphar has been an important YPB client since September 2016 and the leading user of YPB’s ProtectCode product authentication solution. The new MSA allows for the extension of product coverage to include any of Combiphar’s 170 SKU product portfolio.
YPB and Combiphar’s long-standing relationship was first announced in September 2016. Under that agreement, YPB envisaged covering multiple SKUs of Combiphar, however due to a slow initial take-up of the solution in the first 18 months, only one product line has been covered so far.
Mr Houston said that despite this, from Combiphar’s cough syrup product line alone, YPB has generated approximately half of the anticipated revenue and the Company is encouraged by the signing of the new MSA for a further three years.
Founded in West Java in 1971, Combiphar produces more than 170 product lines across the prescription and over-the-counter segments including OBH Combi cough syrup, Insto eye- care solution and JointFit gel-based relief for joints.
“Our refreshed strategy has Pharma and health products as key verticals of focus and we are delighted to extend and expand our close collaboration with Combiphar,” Mr Houston said.
“We anticipate our solutions enhancing Combiphar’s engagement with greater numbers of its consumers by assuring the authenticity of a broader range of its products.”
